"Incoterms" is an abbreviation of International Commercial Terms, which were first published in 1936 by the International Chamber of Commerce (ICC). The Incoterms provide a common set of rules for the most often used international terms of trade.

For business terminology to be effective, words must mean the same thing throughout the industry. That is why the International Chamber of Commerce created INCOTERMS in 1936. INCOTERMS are designed to create a bridge between industry members, acting as a uniform language that can be used. INCOTERMS can thus have a direct financial impact on companies of a business. The important thing is not the original, but the results of the company. Often companies like to be in control of their property. So, sellers of goods may choose to sell CIF, which gives them a good understanding of shipments abroad, and buyers prefer to purchase FOB, which gives them a stronger embrace of goods carried in country.

Incoterms are a set of conditions for international sales, published by the International Chamber of Commerce. also concerned with the documentation required for global trade, indicating that the parties are responsible for the documents. The determination of the documentation required to move a shipment is an important job, since requirements vary so much between countries

As per my knowledge, Inconterms refers to a type of agreement for the purchase and shipping of goods internationally. Incoterms rules are international rules that are accepted by governments, legal authorities and practitioners worldwide for the interpretation of the most international trading companies.